NCASH very critical moment.
Updated
───────── why LONG ─────────
On the surface it seems that NCASH is creating a megaphone pattern which is a very bullish sign.
MACD on the 1h chart may indicate a new wave of buying.
Its seems that the company is doing something behind the scenes.
I would assume that first target would be 380 and if it will continue the megaphone pattern and break the 380 level than 420 would be expected.
In that case i'd expect it to correct to the ~360 level and bounce up again to ~530-550(if to take into account previous highs as resistance).
───────── why SHORT ─────────
The company didn't announce anything new for a few months and seem very quiet, which is seems like not a smart play to use the current bull run.
(either they got nothing new or something big coming)
As the current state of crypto in India doesn't seem too good since today were proposed a bill to "Ban" crypto.
Although, we've seen the Indian government try a ban on Bitcoin unsuccessfully before.
(The legal state of crypto might explain the company's quietness tp avoid targeted legal spotlight)
If nothing happens behind the scenes, I would expect NCASH to fall below the resistance line and hit back to the ~250 area eventually.
On the surface it seems that NCASH is creating a megaphone pattern which is a very bullish sign.
MACD on the 1h chart may indicate a new wave of buying.
Its seems that the company is doing something behind the scenes.
I would assume that first target would be 380 and if it will continue the megaphone pattern and break the 380 level than 420 would be expected.
In that case i'd expect it to correct to the ~360 level and bounce up again to ~530-550(if to take into account previous highs as resistance).
───────── why SHORT ─────────
The company didn't announce anything new for a few months and seem very quiet, which is seems like not a smart play to use the current bull run.
(either they got nothing new or something big coming)
As the current state of crypto in India doesn't seem too good since today were proposed a bill to "Ban" crypto.
Although, we've seen the Indian government try a ban on Bitcoin unsuccessfully before.
(The legal state of crypto might explain the company's quietness tp avoid targeted legal spotlight)
If nothing happens behind the scenes, I would expect NCASH to fall below the resistance line and hit back to the ~250 area eventually.
Note
# NCASH broke below the support trend line.# Tested the 250 as predicted
─ NCASH will check the ~300 resistance
OR
─ NCASH will re-check the ~250 support
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